I own a C corp in California with 5 stores. We're starting a new company to import leather handbags from abroad for retail and wholesale. An advisor said I should consider putting the ownership of this business into a LLC as the tax rate may be lower than for our C corp. My question is, is this possible? Can our corporation own a LLC? With the profits taken in distributions from the LLC? Also any insight as to whether tax fees will be reinstated in California? (based on gross revenues of the LLC) Thank you in advance

excon

Hello slo:

Your corporation can do anything you can do except vote.

excon